During the first semester of 2018, commercial activity in the free zone generated $10.781 billion, registering an increase of 8% with respect to the amount registered in the same period in 2017.
In line with the year-on-year increase of 11% reported in the first three months of the year, during the first half of the year, imports totaled $4.920 billion and re-exports amounted to $5.862 million, which exceeds by 5% and 19% respectively figures registered from January to June 2017.
The union of free zones in the Dominican Republic and the Colon Free Zone in Panama signed an agreement to promote trade between both countries.
Best practices and customs processes, exchange of experiences and joint promotion of trade between Panama and the Dominican Republic, are some of the agreed points, according to representatives of the National Council of Free Trade Zones (CNZFE) in the Dominican Republic.
The free zones in the Dominican Republic annually export about $5.7 million, and entrepreneurs claim that their results outperform countries such as Costa Rica, Chile, Colombia and Puerto Rico.
According to the Dominican Association of Free Zones (Adozona), the sector accumulates investments of $4.474 million, which come from the United States, the European Union, Canada, Brazil, Taiwan and South Korea.
A proposal has been made to create a special economic zone in 26 municipalities in the southeast of the country, which would provide tax incentives for activities related to clean energy and the prospecting of natural gas and oil.
The Executive presented to the Legislative Assembly a preliminary draft of the Law on the Special Economic Zone of the Southeast Region of El Salvador, which has the objective of developing 26 municipalities of Usulután, San Miguel and La Unión.
In the first quarter of 2018, commercial activity in the free zone generated $5.292 billion, 11% more than was recorded in the same period in 2017.
According to figures from the Colon Free Zone (ZLC), from January to March of 2018 imports totaled $2.427 billion and re-exports amounted to $2.866 billion, which exceeds by 8% and 14%, respectively, what was registered in the first quarter of 2017.
In 2017, commercial activity in the Colon Free Zone totaled $19,713 million, which represents an increase of only 0.3% compared to 2016.
According to Carlos Vallarino, Head of Economic Studies at the Colon Free Zone (Zolicol), "entrepreneurs should opt for alternative re-export options to footwear, clothing and textiles, switching to products such as: pharmaceuticals, fine jewelry, electronic devices among others in order to boost growth of their commercial activities".
By filing of a lawsuit arguing unconstitutionality the union of free zones aims to once again include the 25 sectors which were excluded from receiving tax benefits under the new law.
The regulations of the controversial Emergent Act for the Conservation of Employment are still under review by the Attorney General's Office and authorities at the Ministry of Economy stated they would evaluate the possibility of modifying it, since the law is already in force and can only be revised by Congress.
The National Rice Corporation states that adhering to the regional initiative blights what has been achieved in bilateral agreements with each country in the Alliance.
The Costa Rican agro industry has closed ranks against the country's accession to the Pacific Alliance. Both producers and the minister himself, Luis Felipe Arauz, have stated that the agreement is unfavorable for products such as rice, coffee, swine, beef cattle, ornamental flowers and strawberry growers.
The Ministry of Economy has published its annual list of application of tariffs by product classification and trade agreements.
From a statement issued by the Ministry of Finance in Guatemala:
Guatemala, March 10, 2016. On February 3, the Ministry of Economy published the annual lists of application of tariffs in accordance with legislation approved by the Congress, which serves as reference for developing the necessary documentation for the importation of goods from trading partners maintaining lists, nomenclature and description approved by the legislature.
They argue that joining the bloc offers growth potential for commercial partners who to date represent only 4% of total exports.
Enrique Egloff, president of the Chamber of Industries of Costa Rica provided support for this with figures which show that in 2015 Costa Rica's exports to the countries in the Pacific Alliance totaled $377 million and imports $1.786 billion.
Fifteen years after the first approach was made, the countries have not reached an agreement on the conditions of entry of products such as textiles, meat and sugar.
Since 2001, Guatemala and Canada have been trying to close negotiations to create a free trade area between the two markets. Besides pending negotiations related to phytosanitary issues, labor and environment, the definition of the terms of trade of products such as sugar, textiles, beef and pork has still not been made concrete, and there is no light at the end of the tunnel.
There is still no legal framework to manage the international cooperation funds that would finance the implementation of the customs union between the two countries.
Even though the Central American Economic Integration Secretariat (SIEC) announced "progress" in the process of the Customs Union between Guatemala and Honduras, Elperiodico.com.gt denounced the obstacles preventing it, "...
Most of the products which Nicaragua exports to the USA will continue to enjoy, for at least 10 years, tariff advantages compared to those products sold within the Transpacific Association Agreement.
From a statement issued by the US Embassy in Managua:
The Director of the Office of Bilateral Trade Affairs, Department of State, Robert D. Manogue, visited Nicaragua for the purpose of holding meetings with government cabinet members in charge of the portfolio of foreign trade and private sector members, with whom he discussed opportunities for Nicaragua to achieve greater economic prosperity.
The governments have confirmed that the process of technical implementation of the customs union will take between five to six months.
The Minister of Economy and Finance Ruben Morales referred to the process of the Customs Union between Guatemala and Honduras as "a gradual and progressive process, since its implementation will take five to six months. This process involves several institutions in the two countries. "
The decree approved by the Guatemalan Congress was the missing step needed to implement the free movement of people and goods between the two Central American countries.
From a statement issued by the Ministry of Trade:
Guatemala, January 22, 2016. The Congress of Guatemala yesterday approved a Protocol Enabling the Deep Integration towards the free movement of people and goods between the Republics of Guatemala and Honduras.